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Panama Economic Activity May 2022

Panama: Economic activity grows at quickest pace since August 2021 in May

Economic activity grew 26.3% compared to the same month of the previous year in May, soaring from April’s 6.2% increase. May’s figure marked the best result since August 2021. The strong print was driven by healthy expansions in customer-facing services activity—chiefly retail sales, hotels and restaurants—and industrial output, including mining, construction and manufacturing activity.

Meanwhile, annual average economic activity growth fell to 18.5% in May (April: +19.3%), pointing to a worsening trend.

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